Saudi Citizen, Expat Jailed and Fined for Money Laundering
The Saudi competent court issued a prison sentence and financial fines against a citizen and an Arab expatriate after they were found guilty of the charges attributed to them of their involvement in the crimes of money laundering and commercial concealment, an official source at the Public Prosecution has announced.
This came after the Economic Crimes Prosecution completed the investigations and charged the defendants.
The investigations revealed that the citizen had enabled the expat to practice commercial activity and work for his own account in the activity of medical supplies in exchange for a monthly wage.
The citizen had also enabled the expatriate to buy and sell medicines from companies, contract with government agencies, and negotiate with real estate owners, in addition to depositing and transferring funds to companies.
The investigation stated that the expatriate had deposited more than SR7 million, and then transferred it outside Saudi Arabia.
